Oil prices climb on tight supply worries
Oil prices rose by as much as $1 per barrel on Thursday after dropping below key technical support levels in the previous session, as an energy standoff between Europe and Russia ...
Britain borrows big again to ease energy shock
Britain’s new leader Liz Truss capped soaring consumer power bills for two years on Thursday in a package to limit the economic shock of war in Ukraine that could ...
Oil slides to 7-mth low on renewed demand fears, rate hike expectations
Oil prices fell more than $1 on Wednesday to their lowest since before Russia invaded Ukraine as COVID-19 curbs in top crude importer China and expectations of more interest rate hikes ...
Eni official’s comments on EastMed pipeline misunderstood – energy ministry
A correction was issued on Wednesday to an earlier Reuters report quoting Italian gas giant Eni’s chief operating officer (COO) as saying that the EastMed pipeline would be fully ...
OPEC+ seems to want $90 crude oil. It may end up defending $50: Russell
By Clyde Russell
It’s tempting to dismiss the decision by the OPEC+ group to cut crude oil production by 100,000 barrels per day (bpd) in October as a statistical insignificance ...
EastMed pipeline to be completed by 2025
The EastMed pipeline will be fully completed by 2025, ENI Chief Operating Officer Guido Brusco said on Tuesday during an event in Milan, Italy.
The EastMed is a subsea pipeline designed ...
Oil prices inch lower on symbolic OPEC+ output cut
Oil prices edged lower on Tuesday, paring gains from the previous session, as an OPEC+ deal to cut output by 100,000 barrels per day in October was seen as a largely ...
OPEC+ agrees small oil production cut
OPEC and its allies led by Russia on Monday agreed a small oil production cut to bolster prices that have slid on fears of an economic slowdown.
The oil producers ...
Consumer group slams government for slow solutions to face cost of living crisis
The island’s consumer and quality of life association on Monday criticised the government for failing to act decisively in an effort to ease the burden of the rapidly rising ...
OPEC+ agrees small oil production cut
OPEC and its allies led by Russia on Monday agreed a small oil production cut to bolster prices that have slid on fears of an economic slowdown.
The oil producers ...
Gazprom: off-line Nord Stream compressor station now deemed hazardous
Russian gas giant Gazprom said on Monday it had received a formal warning from Russian regulators that the idled Portovaya compressor station, which is supposed to push gas towards Germany ...
France, Germany to provide each other with gas, electricity, to weather crisis
France will send gas to Germany if needed while Germany stands ready to provide it with electricity, President Emmanuel Macron said on Monday, saying this showcased European solidarity in the ...
Germany to keep two nuclear reactors in reserve until April 2023
Germany will keep two of its three remaining nuclear plants available for power production as part of a reserve scheme recommended by power transmission grid operators (TSOs) that stress-tested electricity ...
EU chief wants to cap price of Russian pipeline gas
Upcoming European Commission proposals to tackle surging energy prices will aim to cap the price of gas Russia sends to Europe via pipelines, and offer support to electricity producers facing ...
Germany might consider gas rationing after Russia halts flows -Uniper CEO
German gas importer Uniper UN01.DE does not rule out Europe’s biggest economy will eventually consider gas rationing after Russia stopped flows via its main pipeline to the continent ...
Europe’s alternatives if Russia shuts off gas supply
The Nord Stream 1 pipeline that transports Russian gas to Germany will undergo further maintenance, Gazprom said on Friday after scrapping a Saturday deadline to resume flows, deepening Europe’s difficulties ...
Italy’s costs to import energy will double to 100 billion euros
Italy’s net energy import costs are set to more than double this year to nearly 100 billion euros ($99.5 billion), the economy minister said, warning Rome could not spend indefinitely to ...
Russia signals opposition to potential OPEC+ oil output cut – WSJ
Russia does not support an oil production cut at this time and it is likely OPEC+ will keep its output steady when it meets Monday, the Wall Street Journal reported ...
High energy prices here to stay
The EU has finally woken-up to the seriousness of the problem
High energy prices are here to stay for many years to come. Last week, Shell’s CEO, Ben van ...
No Stream: EU gas markets brace for price surge
European gas buyers already grappling with record-high prices face further pain when the markets open on Monday after Russia said one of its main supply pipelines to Europe would remain ...
Shell and Total Namibia oil discoveries likely in billions of barrels -minister
Namibian offshore oil and gas discoveries by TotalEnergies (TTEF.PA) and Shell (SHEL.L) are of commercial quantities, likely in the billions of barrells, the southern African nation’s mines ...
EU Council chief says Commission was late to respond to energy crisis
In a rare instance of criticism among their own, European Council President Charles Michel has said the European Commission led by Ursula von der Leyen has been late in responding ...
Exxon, Shell sell California oil assets for $4 billion to IKAV
Exxon Mobil Corp (XOM.N) and Shell Plc (SHEL.L) on Thursday confirmed the sale of their California oil joint-venture Aera to German asset manager IKAV for $4 billion, ending a 25...
Russia scraps gas pipeline reopening, stoking European fuel fears (Updated)
Russia has scrapped a Saturday deadline to resume flows via a major gas supply route to Germany, deepening Europe’s difficulties in securing winter fuel, after saying it had found ...